Bernard Arnault's net worth: How Did Bernard Arnault Make His Money?

Bernard Arnault's net worth: How Did Bernard Arnault Make His Money?

Jean Etienne Arnault, his father, was a manufacturer and a graduate of Ecole Centrale Paris. Jean Leon Arnault was his daughter. Marie-Josephe Savinel, the owner of Ferret-Savinel, was born on March 5th, 1949 in Roubaix, France.

Born following his maternal grandfather, Savinel was given the responsibility of managing Ferret-Savinel by his son-in-law, who eventually received Jean Leon Arnault''s ownership of the company. In 1971, Bernard received his diploma from the Ecole Polytechnique, which is widely regarded as the best engineering institution in France.

Career

Arnault started working for Ferret-Savinel, the company he previously owned by his maternal grandfather, in 1978. During his time at Ferret-Savinel, he was instrumental in shifted the business from construction to real estate, which would be a profitable strategic decision for the company in the long run.

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In 1984, he collaborated with Antoine Bernheim in order to purchase Financiere Agache. He later became owner of Boussac Saint-Freres, the company''s luxury goods, with the exception of the Christian Dior and the department store Le Bon Marche. Through, Boussac was the owner of a wide range of brands and stores, including Christian Dior and Le Bon Marche.

Arnaults'' intense interest in the financial world enabled him to establish LVMH in 1987, a group of luxury businesses comprised of Christian Dior, and he became more prosperous than ever before as a result. In 1987, the luxury fashion brand Louis Vuitton combined with the beverage company Moet Hennessy, which resulted in the formation of the conglomerate.

In July of 1988, Arnault invested an additional $600 million to purchase 13.5 percent of LVMH shares in order to prevent the possibility that the Louis Vuitton group would attempt to buy up LVMH stock in order to establish a blocking minority.

LVMH''s principal shareholder was successful in this effort to counter the circulatory rumors. In January 1989, he invested an additional sum of money to purchase additional shares. At that time, he had accumulated a total of 43 percent of the company, giving him voting rights equal to 35 percent of the vote.

He has been able to dethrone the LVMH group by utilizing the power and influence that he had, and has since guided the conglomerate through a metamorphosis that has made it one of the world''s most powerful and successful luxury organizations.

LVMH, led by Arnault, gained significant growth in the span of eleven years, but also the company''s market value increased by a factor of fifteen. Arnault has continued to advocate a strategy that decentralizes the brands, enabling them to be recognized as autonomous companies and corporations with their own histories and tales.

Despite the fact that the conglomerate owns a slew of brands (75 in total as of June 2020) Celine, which was acquired in 1988, Berluti, which was acquired in 1993, Guerlain, which was acquired in 1994, Marc Jacobs, which was acquired in 1997, Thomas Pink, who was acquired in 1999, and Emilio Pucci, who was acquired in 2000.

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Additional Investments

Arnault has led a wide variety of other businesses, including LVMH. Between 1998 and 2001, he made investments in several web startups. These include Boo.com, Libertysurg, and Zebank. In 1999, he made an investment in Netflix, led by Grupe Arnault.

In 2007, Arnault, a partner with Colony Capital, established in California, owned 10.69 percent of Carrefour. Carrefour is the world''s second largest food distributor and largest grocery store in France. Besides that, he has discovered interest in the yachting industry.

In the year 2008, he purchased Princess Yachts for around 253 million euros. After that, he purchased the majority share in Royal van Lent.

Collection of artworks

Arnault is well-known for his extensive interest in art collecting, as well as stepping down his commercial empire. Arnault has funded creative exhibitions in France under the auspices of LVMH. Some of the artists featured in these exhibitions include Andy Warhol, the pioneer of pop art, and Pablo Picasso.

Personal Life

In the year 2019, Arnault married Anne Dewavrin, who died 15 years later. Together, they married and separated in 1990. Arnault and his mother married in 1990. He married Helene Mercier, a Canadian concert pianist, in the year 1990. In the year 2019, he married and married a family of two hundred million euros to assist in restoration and repair work.

Bernard Arnault Net Worth

Bernard Arnault, a French billionaire, has been named among the world''s top 10 richest individuals following these roles. These include Jeff Bezos and Bill Gates.

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Bernard Arnault Wealth Details

Christian Dior acquired the majority of Arnaults wealth by his family, which now has a controlling share of 73 percent. The Arnault family owns 5.7 percent of the worldwide luxury goods company, LVMH. Christian Dior owns 42 percent of the company, making it Christian Dior''s greatest business holding. Additionally, he owns 8.4% of Hermes.

In 2009, he split ways with Cheval Blanc by selling his share of the business to LVMH for 238 million euros. In 2016, LVMH reported a total revenue of $41.6 billion. For the first time in June of 2019, Bernard Arnaults assets valued at $100 billion.

At the time, he held the third-place spot on the list of the world''s richest people. As of July 2019, his net worth had surpassed $108 billion, putting him in the world''s wealthiest position, nearly $400 million ahead of Bill Gates. Bernard Arnault''s net worth from the beginning of 2019 to the end of the year was $36 billion.

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